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  #41  
Old 17.07.2008, 15:16
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Re: The concept of a VISA debit card

Yes, Switzerland definitely has debit cards. They work great for CH related things
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  #42  
Old 21.07.2008, 18:26
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Re: The concept of a VISA debit card

FWIW, when I arrived in DE Xyears ago I asked fellow expats the same question as the OP has asked us, WTF is a Maestro and why don’t I have a VISA/MC debit card. The answer was “because the %age charged by VISA/MC makes the retailers unhappy so they refuse to take it”. Which was fair enough to me as the prices were so low (DEM days, not EUR!).

Not sure what Switzerlands excuse is though!

Also, re US banking, there are 50,000 banks in the US. So any minor change to the bill processing system etc, like the introduction of CHIPs is a major change in the US. 50,000 banks, 50,000 IT projects, 50,000 process changes. That kind of impact moves economies, even one the size of the US. Just look at the US ‘cell’ phone industry. I used to watch X-Files and Mulder (Sp?) on telly and he’d pull out this archaic POS mobile phone to make a call with, the sort of hardware I had 10 years ago. The US is pretty advanced in theory but its infrastructure is not far from third world.

15 years ago I opened a bank account in Brussels, with Citibank to be exact. The use of pins and Point of Sale was normal, I see that the UK is now getting around to it but most of the time they just want me to sign for it. No excuse for the UK.
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  #43  
Old 21.07.2008, 18:36
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Re: The concept of a VISA debit card

I just opened a bank account today with Credit Suisse and because I have an L permit, I could only get a Maestro card with the bank. I was told by Credit Suisse that with either B or C permits, I could get a Visa bank card.
Does anyone know if this is the same case with Coop or Migros Visa card applications? Would an L permit suffice or no?
Thanks!
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  #44  
Old 21.07.2008, 18:51
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Re: The concept of a VISA debit card

Excuse for what ? You can get Visa/Mastercard credit cards/charge cards in a variety of currencies. Maestro is used for the debit function of most of the banks requiring appropriate customer-present equipment. It works in most countries I have ever visited. What' s the issue ?

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Not sure what Switzerlands excuse is though!

...

15 years ago I opened a bank account in Brussels, with Citibank to be exact. The use of pins and Point of Sale was normal, I see that the UK is now getting around to it but most of the time they just want me to sign for it. No excuse for the UK.
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  #45  
Old 21.07.2008, 18:55
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Re: The concept of a VISA debit card

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I just opened a bank account today with Credit Suisse and because I have an L permit, I could only get a Maestro card with the bank. I was told by Credit Suisse that with either B or C permits, I could get a Visa bank card.
Does anyone know if this is the same case with Coop or Migros Visa card applications? Would an L permit suffice or no?
Thanks!
its not a VISA BANK CARD, it is a CREDIT CARD. There are no visa bank cards.

and exceptions are made based on your income level regardless of permit.
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  #46  
Old 21.07.2008, 18:59
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Re: The concept of a VISA debit card

Not necessarily. I don't know what is being offered here, but it may be a CHARGE CARD requiring the complete balance to be cleared every month. CREDIT CARDs (no idea why we are using capitals but I digress) permit a rolling balance within a limit and interest added monthly.

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its not a VISA BANK CARD, it is a CREDIT CARD. There are no visa bank cards.

and exceptions are made based on your income level regardless of permit.
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  #47  
Old 21.07.2008, 20:02
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Re: The concept of a VISA debit card

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its not a VISA BANK CARD, it is a CREDIT CARD. There are no visa bank cards.

and exceptions are made based on your income level regardless of permit.
Actually, I don't know whether it was a credit card or a debit card that Credit Suisse offers - I just would like to get either with a Visa logo because it means that I can make purchases online, and I assume that it has other advantages that a Maestro card cannot offer. I don't really care whether I have a Visa _debit_ or _credit_ card in Switzerland as I have a US credit card that I can use when traveling abroad. My question was just whether anyone knows if the Migros and Coop Visa card carries the same restrictions that Credit Suisse does with regards to the L permit?
Thanks
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  #48  
Old 22.07.2008, 10:37
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Re: The concept of a VISA debit card

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Not necessarily. I don't know what is being offered here, but it may be a CHARGE CARD requiring the complete balance to be cleared every month. CREDIT CARDs (no idea why we are using capitals but I digress) permit a rolling balance within a limit and interest added monthly.
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dave


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Actually, I don't know whether it was a credit card or a debit card that Credit Suisse offers


Read my lips…. As someone who was intimately involved in Swiss Banking products…

“its not a VISA BANK CARD, it is a CREDIT CARD. There are no visa bank cards.”

It is not a charge card either. Though Credit Cards can operate as charge cards simply by choosing to clear the balance rather than make a minimum payments. I have one of those two, though it is referred to as a Zero Balance Credit Card and it comes from Raifessen not CS.

“and exceptions are made based on your income level regardless of permit.”.

For example, with my L permit and having been here 6 weeks I applied for a Credit Card from Swiss (air). Even though I had an L permit I still received it a few weeks later and a 28,000 CHF limit. It made me chuckle because the paperwork said “you maximum monthly spending is 28,000 CHF” which made me wonder exactly what I could spend 28K on in a month – shades of “Brewsters Millions…”.
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  #49  
Old 22.07.2008, 11:56
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Re: The concept of a VISA debit card

I am reading your lips, and find what spurts forth adds nothing to the discussion. I have no idea what you are trying to say.

I have a Visa Charge Card.
I have a Visa Credit Card.

A charge card is not a credit card, but carries the Visa symbol. This is significant as the risk assessment differs and you may find it easier to get a chargecard with a short term permit.

I have a Visa holdall to carry my sports gear, but that's not important right now.

Everyone I know has been intimately involved with swiss banking products, so I hardly impressed by your special knowledge.

dave

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and



Read my lips…. As someone who was intimately involved in Swiss Banking products…

“its not a VISA BANK CARD, it is a CREDIT CARD. There are no visa bank cards.”

It is not a charge card either. Though Credit Cards can operate as charge cards simply by choosing to clear the balance rather than make a minimum payments. I have one of those two, though it is referred to as a Zero Balance Credit Card and it comes from Raifessen not CS.

“and exceptions are made based on your income level regardless of permit.”.

For example, with my L permit and having been here 6 weeks I applied for a Credit Card from Swiss (air). Even though I had an L permit I still received it a few weeks later and a 28,000 CHF limit. It made me chuckle because the paperwork said “you maximum monthly spending is 28,000 CHF” which made me wonder exactly what I could spend 28K on in a month – shades of “Brewsters Millions…”.
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  #50  
Old 22.07.2008, 12:39
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Re: The concept of a VISA debit card

Dave,

There are no charge cards in Switzerland issued by banks. Ask your bank.

There are credit cards that operate like charge cards. Issued by plenty of companies. An L permit is not a hindrance.

Reading your posts above, its clear you haven't read from post number 40 properly, if you go back and try again and you'll see that you're biting about something that doesn't need or deserve biting.

I also had a visa holdall, back when that bloke from the holiday programme was doing the advertisements.
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  #51  
Old 22.07.2008, 12:42
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Re: The concept of a VISA debit card

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Dave,


There are credit cards that operate like charge cards. Issued by plenty of companies. An L permit is not a hindrance.
Thanks Mr. Happy! Will have to explore this further
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  #52  
Old 22.07.2008, 13:12
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Re: The concept of a VISA debit card

There are cards that operate under a Visa symbol that require rather than offer the option of clearing the balance each month. That is my understanding of a charge card. Ask your bank. I don't need to, as I have been operating it for several years.

If you are going to indulge in a groan-fest, make sure you are right first.

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There are no charge cards in Switzerland issued by banks. Ask your bank.

There are credit cards that operate like charge cards. Issued by plenty of companies.

Last edited by DaveA; 22.07.2008 at 13:44.
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  #53  
Old 22.07.2008, 14:43
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Re: The concept of a VISA debit card

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Actually, it would be absolutely pleasing for me (small business owner) to see an instant payment process installed in Switzerland that does not cost me an arm and a leg. 3-5% per plus a transaction fee and initial set-up fee. Just the latter two would cost me CHF 1500.- for the first month.

Sorry, I would rather accept prepayment, send out and consolidate
orange payment slips or accept simple cash..
What would you consider to be acceptable charges for an instant payment process, and how would you see it working?
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  #54  
Old 22.07.2008, 14:50
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Re: The concept of a VISA debit card

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Most UK BACS transfers are now same-day as opposed to 3-5 days.
http://news.bbc.co.uk/2/hi/business/7417303.stm
BACS had the ability to clear cheques in less than 3 days about 30 years ago, but chose to earn the interest instead. At the time they reckoned that 90+ per cent of all transactions (even including buying a paper at a newsagent) ended up being processed by them so you can imagine the sums at stake.
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  #55  
Old 22.07.2008, 15:02
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Re: The concept of a VISA debit card

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Get a PostFinance bank account - the PostFinance card is as close as it gets to a debit card by the sound of things. Took a few months to come through but now it's here. Someone mentioned using it on the internet - that we haven't done - but in Coop, at the station, some shops etc, done.
Just one warning about using the PostFinance card for shopping. I had got used to using my UBS Maestro card and seeing the money disappear from my account instantly (as in the time it took me to cross the street) but Postcard transactions take longer to work their way through. As a result I whipped some cash out that I didn't have one weekend, which p*ssed me off enormously, as I like to keep things straight.
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  #56  
Old 22.07.2008, 15:23
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Re: The concept of a VISA debit card

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Not quite with you on this one. Don't know the UK, but can image it is
very similar to the states in many ways.

As I mentioned before, show me such TRUST in the US. Show me a
flower shop that leaves plants outside overnight and on the weekends.
Show me a painter that leaves his ladder hanging on it's hooks,
unsecured. There are plenty of such examples throughout Switzerland.

The TRUST in Switzerland that you will pay for the items you ordered
within the allotted time frame. If you don't there are ways to trash a
credit reputation in Switzerland and somewhat into Europe. I have
personally seen to it that two people and one company do not have the
privilege to buy something without prepayment or cash on the barrel
head.

Another thought; if you don't have the money to pay for something,
don't buy it. If you don't have the money to buy it with a debit card,
then you don't have the money to pay for it with credit. If you are
expecting a deposit (usually, every month), then you can make your
purchase during the month and pay for it at the end of the month...
easy! (Credit card or invoiced orange payment slip)

As a business owner, 80% of my invoiced payments arrive between the
28th and 5th of the following month.
Well..actually in the USA about 1mile from where my family lives they leave their flowers outside with a little can where people pay when they buy the flowers. Also vegetables...And no one in sight to collect...
But you are absolutely correct and I agree if you don't have the money don't buy! IF you can help it...You know sometimes..well..LOL
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  #57  
Old 22.07.2008, 15:39
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Re: The concept of a VISA debit card

I switched from a large bank (UBS) to a smaller one. At the smaller bank I have a debit-credit card. So if I pay for something with this card the money is taken out of my account in 5 days. So o.k. it is a little bit of a "sneaky credit card". This works better for me as my bill is paid off and I keep better track of my finances. I had one of these in the USA also. It is like a pre-paid credit card. I can use it like a real credit card for purchases everywhere...
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  #58  
Old 22.07.2008, 15:55
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Re: The concept of a VISA debit card

Credit cards, like credit, have their uses. Particularly for purchase insurance and web stuff. However they also iron out short-term cash flows. I would never be without one, but I’ve had 20 odd years of practice to use one, and I have to say the first 15 or so were more error than I would have liked. Too often I used to pay the 5% minimum and in no time at all, the 5% had crept up, meaning I had to spend more on my CC to survive the month, meaning that the 5% was more the following month which meant more etc etc – vicious cycle.

After several occasions of getting into Credit card debt trouble (not, you know, trouble like the people in council houses with no income that buy a 48” plasma and then worry about it later trouble, I just mean a significant amount of debt) I now have this method. I mention it in case it might work for you.

Each month, I pay by standing order into my CC 5% of the total maximum borrowing (5% being the minimum payment on the balance). By paying 5% on the total I know that I’ll never not pay enough by STO, so don’t have to worry about it.

E.g. With a 20,000 limit CC I pay by STO 1,000 pcm. Regardless of if I have used the CC that month, or regardless of the balance is -5,345.87 Every month I pay 1,000. This allows me never to fall foul of the payments whilst allowing me to know each month that I am spending 1000 on the credit card.

Now, I pay the same amount each month and its all good. I’ll never get into that circle again.

Sometimes my CC is in credit! Not often, but sometimes.
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  #59  
Old 31.08.2011, 11:02
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Re: The concept of a VISA debit card

It's PAINFUL....
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Old 04.12.2013, 13:53
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Re: The concept of a VISA debit card

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Well I suppose that if you overdraft your normal bank account with a VISA debit card you incur interest as well? Doesn't it boil down to the same thing?
Overdraft would be something separate to Debit cards...
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